The cost of living continues to be the top issue for many of us in Southern California. I wanted to share with you some of the actions President Biden, House Democrats, and I have taken to stand up to profit-driven corporations and lower costs. 

Standing Up to Big Pharma: Lower Drug Costs 

For the first time in history, the Biden Administration’s Center for Medicare & Medicaid Services has started negotiations to achieve fair prices for 10 of the most widely used and expensive drugs. Medicare will no longer pay the artificially inflated prices for these drugs that pharmaceutical companies have demanded. Later this year, the final negotiated prices for these 10 prescription drugs, as well as the next 15 drugs selected for price negotiation, will be announced. I will continue to push to expand this drug price negotiation program to bring down medical costs for all Americans.  

Taking on Wall Street: Lower Housing Costs 

High housing prices continue to be a barrier to homeownership. Middle-class families cannot compete with the all-cash offers big corporations put in for single-family housing, locking many everyday Americans out of the dream of owning a home. Last Congress, I worked alongside Reps. Ro Khanna and Katie Porter to introduce the Stop Wallstreet Landlords Act. This bill would impose a tax on any additional homes these corporations buy up. We are working together again to reintroduce this legislation later this year to make sure these profit-driven landlords pay their fair share. 

 Preventing Corporate Consolidation: Lower Grocery Costs 

After Kroger and Albertsons—two of the biggest grocery store chains in the country—announced their intention to merge, the Biden Administration’s Federal Trade Commission stepped in to block the merger. The proposed mega-corporation would control over 10% of the U.S. grocery market, eliminating competition and leading to higher prices on essential groceries.  

The Biden Administration and House Democrats will keep up the fight against big corporations that too often put profits over people.